I have intermediate degree Sell signals pretty much across the board (as of noon, pre FOMC).
SPY, GDX, BITO, etc.
But pending FOMC and the reaction.
Pending because weekly closes factor into my signal confirmations. So provisional for now.
I suspect positive reactions to the expected rate cut.
BUT .. these signals tell me to be on the lookout for a less than convincing follow on push.
So while they may vanish later today or tomorrow, NEXT week these signals can return and stick.
If we drop, my take is for a continuation to the sideways down correction since mid July.
Feels like a triangle, and my charts have that config too.
Might even see revisits to the 200dma’s in some cases that haven’t gotten loving in a long while.